Date of Post: 14 Jan, 2019
Container Corporation of India Ltd (CONCOR), a Navratna PSU, is looking at an annual turnover of Rs 25,000 crore in the next 5 years, Railway Minister Piyush Goyal said. Goyal was speaking at the launch of the maiden container transport of Concor through coastal shipping, which was flagged off by shipping minister Nitin Gadkari.
- The PSU under the Ministry of Railways, which has 81 terminals, will cross the 100 mark next year and would contribute tremendously in bringing down high logistics cost in the country, Goyal said.
- The Minister said, “Concor recorded a turnover of Rs 6,000 crore last year. It aims to take it to Rs 25,000 crore in the next 5 years.”
- He said, with collaboration with the shipping and highways ministry, the PSU could see its 1st voyage through coastal movement and will contribute in reducing the country’s high logistics cost to 8% from about 12% currently, thereby, contributing to the growth of the economy.
- Lauding Gadkari for promoting waterways and bringing about sea changes in the sector, Concor which started its journey with 7 terminals has taken the tally to 81 and would soon cross the hundred-mark, Goyal said.
- Transportation through multimodes like rail, road and sea can bolster India’s economic growth, Goyal further said.
- Shipping Minister Nitin Gadkari kicked off Concor’s maiden operations to transport containers through coastal shipping from Kandla to Tuticorin via Mangalore and Cochin through video conferencing.
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